Blockchain Wave Lab

What does “bitcoin transaction confirmation” mean?

2018-11-12 19:00:23

After a transaction is broadcast to the Bitcoin network, it may be included in a block that is published to the network. When that happens it is said that the transaction has been mined at a depth of 1 block. With each subsequent block that is found, the number of blocks deep is increased by one. To be secure against double spending, a transaction should not be considered as confirmed until it is a certain number of blocks deep. The classic bitcoin client will show a transaction as "n/unconfirmed" until the transaction is 6 blocks deep.